Question

Calculate the amount and compound interest on 8000 at 8% per annum for 2 years.

Answer 1

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Answer 2

Answer:

amount = 54,000.

compound interest = 296

Step-by-step explanation:

8,000×8/108×2

4,000×8/108

32,000/108

divided by 4

8,000/27

296 is compound interest and

amount is 54,000

8000×108/8×2

4,000×108/8

54,000